Lahore: The Lahore Development Authority (LDA) auctioned 25 properties comprising residential and commercial plots, petrol pumps, and education sites for PKR 1,114,995,922, as reported by news sources on May 16.
Read: LDA plans cycling tracks along major roads
LDA Director General Tahir Farooq reviewed the recent auction, deeming it the most successful in the past five financial years. Specific transactions included the lease rights of a property in LDA Avenue One for Rs. 9.6 crore, a petrol pump site lease rights auctioned for PKR 9.6 crore, and another property in Johar Town for PKR 3.12 crore. Additionally, an education site in a residential area was auctioned for PKR 91.43 lakh.
Read: Commissioner’s push for LDA’s project completion offers hope
The auction’s success was attributed to careful planning, transparent processes, and a competitive atmosphere facilitated by the auction committee. This event highlighted the vitality of Lahore’s real estate sector and emphasised the LDA’s role in fostering sustainable urban development and economic growth.